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9 Feb 2015
EUR/GBP little changed after German data
FXStreet (Mumbai) - EUR/GBP continues its choppy trend from the Asian session and traded flat after Germany, the euro area's largest economy, booked a larger trade surplus in December.
Consolidates above 0.7400
The EUR/GBP pair trades modestly flat at 0.7425 levels, having previously posted day’s high at 0.7433 and day’s low at 0.7418 levels. EUR/GBP was unmoved after Germany’s trade surplus widened in December last year, with the country's current account, generated a surplus of EUR19.1 billion in December, up from EUR17.9 billion registered in the previous month.
Meanwhile, traders closely watch further developments on the Greece situation ahead of the critical EU meeting later in the week.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7447 (5-DMA) and above which it could extend gains to at 0.7484 (10-DMA) levels. To the downside immediate support might be located at 0.7402 and below that at 0.7380 (2008) levels.
Consolidates above 0.7400
The EUR/GBP pair trades modestly flat at 0.7425 levels, having previously posted day’s high at 0.7433 and day’s low at 0.7418 levels. EUR/GBP was unmoved after Germany’s trade surplus widened in December last year, with the country's current account, generated a surplus of EUR19.1 billion in December, up from EUR17.9 billion registered in the previous month.
Meanwhile, traders closely watch further developments on the Greece situation ahead of the critical EU meeting later in the week.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7447 (5-DMA) and above which it could extend gains to at 0.7484 (10-DMA) levels. To the downside immediate support might be located at 0.7402 and below that at 0.7380 (2008) levels.